At the time we thought that it was a little overbought from a chartist point of view and withheld our money in the hope that a cheaper entry point would present itself.

However, the recent worldwide market shakeout has hit Khan Resources along with most other uranium stocks. As we said recently we are not overly troubled by the current turbulence in the markets, as we know that corrections do come along from time to time.

As we can see from the chart Khan has dropped in price so we have now promoted it from the Watch List to the Buy List for investments in uranium stocks.

For those of you who watch ROBTV a Canadian TV station there was a very interesting appearance by Brendan Kyne on the Commodities Report on Friday, 2nd March 2007, 11.30AM ET. He is keen on Khan Resources and currently has Khan as his top pick.

He also said a lot of other interesting things such as:

“The utility companies are currently looking to buy 53 million pounds of uranium”

“Each nuclear power station has to keep 2.5 years of uranium supply on site at all times”

“This year 5 new nuclear power plants come on line.Next year 6 new nuclear power plants come on line.Followed by 8 to 10 coming on line”